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Barratt Developments PLC
Director's Dealing • Sep 27, 2024
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 0676G
Barratt Developments PLC
27 September 2024
BARRATT DEVELOPMENTS PLC
(the 'Company')
Notification and public disclosure of transactions by persons discharging managerial responsibilities ('PDMRs') and persons closely associated ('PCAs') with them.
The Company announces the following share transactions undertaken by PDMRs:
Grant of Awards under the Barratt Developments Deferred Bonus Plan (the 'DBP')
Further to the disclosure in the Company's 2024 Annual Report and Accounts in respect of the deferral into shares of one-third of any bonus earned for the financial year ended 30 June 2024, the Company announces that it has granted the following awards on 24 September 2024 to each of the Executive Directors of the Company under the DBP:
Details of the award are set out below.
| Role | Number of shares under award | |
| David Thomas | Chief Executive | 75,458 |
| Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 60,868 |
| Mike Scott | Chief Financial Officer | 46,436 |
The number of shares over which the award was granted was calculated based on a share price of 497.56 pence per share, being the average of the closing middle-market quotations, as derived from the daily official list of the Stock Exchange, for the first five dealing days following the date of the final results announcement of the Company for the financial year ended 30 June 2024.
The DBP Awards will be subject to a continued employment condition for a period of three years, commencing 24 September 2024. At the end of the three years, the shares will be released to the participants, subject to the payment of any tax and national insurance liability due on the shares at that time. No matching shares have been granted against the DBP Awards. These shares will accrue a dividend equivalent.
Vesting of Awards under the DBP
In 2021, David Thomas and Steven Boyes were granted awards over 52,138 shares and 41,263 shares respectively, under the DBP in respect of their bonuses earned in excess of 100% of salary for the financial year ended 30 June 2021. These awards vested on 24 September 2024 and 27,596 shares were transferred to David Thomas and 21,840 shares were transferred to Steven Boyes. David Thomas and Steven Boyes sold 24,542 and 19,423 shares respectively at 496.549 pence per share to cover the tax and NI due on release.
Following the above transactions, the Company confirms that at the date of this announcement, each of the Executive Directors, and the persons closely associated with them, hold the following number of options and awards over Ordinary Shares of 10 pence each in the Company:
| Executive Director | Role | Total number of shares under option and/or award |
| David Thomas | Chief Executive | 904,212 |
| Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 732,647 |
| Mike Scott | Chief Financial Officer | 498,166 |
In addition, the Company confirms that, at the date of this announcement, each of the Directors of the Company, and the persons closely associated with them, hold the following number of ordinary shares of 10 pence each in the Company:
| Director/PDMR | Role | Number of Shares |
| Caroline Silver | Chair | 10,000 |
| David Thomas | Chief Executive | 1,354,426 |
| Steven Boyes | Chief Operating Officer & Deputy Chief Executive | 750,075 |
| Mike Scott | Chief Financial Officer | 69,832 |
| Katie Bickerstaffe | Non-Executive Director | 8,489 |
| Jock Lennox | Non-Executive Director | 10,000 |
| Jasi Halai | Non-Executive Director | 12,581 |
| Nigel Webb | Non-Executive Director | 12,660 |
The Notification of Dealing Form for the above transaction is set out below:
Notification of Dealing Form
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | David Thomas |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Barratt Developments PLC |
| b) | LEI | 2138006R85VEOF5YNK29 |
| 4.1 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 75,458 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | David Thomas |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Barratt Developments PLC |
| b) | LEI | 2138006R85VEOF5YNK29 |
| 4.1 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Vesting of Shares under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 52,138 shares |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 4.2 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Sale of shares to cover tax and NI liability on the vesting of awards under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 24,542 shares sold at £4.96549 per share |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | XLON |
Notification of Dealing Form - Steven Boyes
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Steven Boyes |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer and Deputy Chief Executive |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Barratt Developments PLC |
| b) | LEI | 2138006R85VEOF5YNK29 |
| 4.1 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 60,868 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Steven Boyes |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Operating Officer and Deputy Chief Executive |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Barratt Developments PLC |
| b) | LEI | 2138006R85VEOF5YNK29 |
| 4.1 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Vesting of Shares under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 41,263 shares |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | Outside a trading venue |
| 4.2 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Sale of shares to cover tax and NI liability on the vesting of awards outlined in 4.1 |
| c) | Price(s) and volume(s) | 19,423 shares sold at £4.96549 per share |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | XLON |
Notification of Dealing Form - Mike Scott
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mike Scott |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Financial Officer |
| b) | Initial notification /Amendment | Initial notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Barratt Developments PLC |
| b) | LEI | 2138006R85VEOF5YNK29 |
| 4.1 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification code |
Ordinary Shares of 10 pence ISIN: GB0000811801 |
| b) | Nature of the transaction | Grant of a Conditional Award under the Barratt Developments Deferred Bonus Plan |
| c) | Price(s) and volume(s) | 46,436 shares awarded at no cost |
| d) | Aggregated information - Aggregated volume - Price |
N/A - Single Transaction |
| e) | Date of the transaction | 24 September 2024 |
| f) | Place of the transaction | Outside a trading venue |
This notification is made in accordance with the requirements of the UK Market Abuse Regulation.
For further information, please contact:
Tina Bains, Company Secretary +44 (0) 7469 054476
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